To amend the Small Business Act to provide for cancellation or repayment for Small Business Administration disaster loans, and for other purposes.

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9036 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 9036

    To amend the Small Business Act to provide for cancellation or 
  repayment for Small Business Administration disaster loans, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 15, 2024

   Mr. Carter of Louisiana introduced the following bill; which was 
              referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
    To amend the Small Business Act to provide for cancellation or 
  repayment for Small Business Administration disaster loans, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CANCELLATION OR REPAYMENT FOR SMALL BUSINESS ADMINISTRATION 
              DISASTER LOANS.

    Section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is 
amended--
            (1) by redesignating the second paragraph (16) (relating to 
        statute of limitations) as paragraph (17); and
            (2) by inserting after paragraph (17), as so redesignated, 
        the following new paragraph:
            ``(17) Cancellation or repayment.--The Administrator may 
        cancel or repay an amount of the balance of interest and 
        principal due on a loan made under this subsection for a 
        borrower described in such subparagraph beginning on the date 
        which is one year after the day on which the disaster or 
        emergency declaration for which such loan was secured has been 
        issued or deemed to have been issued.''.
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